CapGrid Raises ₹50 Cr to Move Into Precision Parts and Drones

Delhi NCR-based B2B manufacturing startup CapGrid has raised ₹50 Cr (about $5.2 Mn) in a pre-Series B round led by Hero Enterprise Venture Partners, the investment arm of Hero Enterprise. The round values the company at ₹430 Cr (about $45.3 Mn), according to cofounder and CEO Dheeraj Tiwari.

The deal mixes primary and secondary transactions. Axilor Ventures, Anicut Capital, Nexus Venture Partners and angel investors also took part. Part of the primary proceeds will go into R&D for higher-end engineered precision components, with the rest backing business growth. CapGrid previously raised $5 Mn in an extended Series A led by Anicut Growth Fund.

An asset-light model

Founded in 2021 by Tiwari and Himanshu Raghuvanshi, CapGrid serves OEMs and Tier I suppliers in automotive, consumer durables and heavy industries. It owns no factories. Its cloud platform coordinates design, development, production and delivery through third-party manufacturers, and the company says it uses AI and ML to match orders with suppliers and track schedules and quality requirements.

According to the startup, its supplier partners run at around 60% capacity, and CapGrid pools orders from different OEMs to fill that gap. A control tower tracks sourcing, procurement, production and deliveries, while 14 fulfilment centres near major OEM clusters handle inventory and deliveries to assembly lines. It also offers new product development, import localisation and value engineering.

Growth targets

CapGrid began in automotive, a sector where India's auto component industry posted turnover of ₹7.59 Lakh Cr in FY26, up 12.7%, according to ACMA. It now plans to enter drone manufacturing and data centres.

Tiwari said operating revenue grew around 14% to ₹240 Cr in FY26, and the company targets ₹350 Cr in FY27. Its annualised revenue run rate has climbed from about ₹300 Cr six months ago to ₹360-370 Cr, with ₹500 Cr as the next goal. The company has not disclosed margins or working-capital figures, so it is unclear whether more complex orders will improve returns.